Question
Canada Corporation began 2021 with retained earnings of $240 million. Revenues during the year were $520 million, and expenses totaled $300 million. Canada declared dividends
Canada
Corporation began
2021
with retained earnings of
$240
million. Revenues during the year were
$520
million, and expenses totaled
$300
million.
Canada
declared dividends of
$61
million. What was the company's ending balance of retained earnings? To answer this question, prepare
Canada's
statement of retained earnings for the year ended December 31,
2021,
complete with its proper heading.
Prepare the statement of retained earnings. (Enter all amounts in millions. Enter a net loss with a minus sign or parentheses. Include a subtotal after the "Add" line of the statement.)
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| Add: |
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| Subtotal |
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| Less: |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
